Journal of Financial Economic Policy: Volume 10 Issue 2

Systemic risk and the organization of the financial system: overview

Clas Wihlborg

Before providing an overview of the conference with the above title and this Special Issue, this paper aims to present a view of the meaning of systemic risk, factors that affect…

International coordination of financial supervision: why has it grown? Will it be sustained?

Richard John Herring

This article reviews the history of international coordination in the supervision of financial institutions noting why cooperation developed first and has been most extensive in…

Capital regulation and systemic risk in the insurance sector

Thomas Gehrig, Maria Chiara Iannino

This paper aims to analyze systemic risk in and the effect of capital regulation on the European insurance sector. In particular, the evolution of an exposure measure (SRISK) and…

Regulating bank leverage

Alexander Bleck

This paper aims to study the design of bank capital regulation and points out a conceptual downside of risk-sensitive regulation. The author argues that when a bank is better…

Raising bank loss absorption capacity through equity capital or bail-in debt: A perspective from Europe

Harald A. Benink

Based upon recent statements made by the European Shadow Financial Regulatory Committee, a group of well-known professors coming from ten European countries, during the period…

Bondholder reorganization of systemically important financial institutions

Steven D. Gjerstad

This paper aims to describe a resolution process for faltering financial firms that quickly allocates losses to bondholders and transfers ownership of the firm to them. This…

Macro and micro financial liberalizations, savings and growth

Gonçalo Pina

This paper aims to empirically and theoretically study the role of domestic savings behind the financial stability and growth effects of different financial liberalizations, when…

Implications of Central banks’ negative policy rates on financial stability

Benjamin S. Kay

While central bankers have widely discussed the trade-offs of negative interest rates on monetary policy, the consequences of negative rates on financial stability are less well…